Bitcoin is now stronger than ever. - page 2.

Rampion

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Quote from: pedrog on July 21, 2016, 05:55:22 AM

Well, by what's happening with Ethereum's price it seems everyone is happy with the outcome, so, go cry somewhere else because nobody cares about your feelings.

1) I'm not crying
2) I still own thousands of ETH bought in the crowdsale (and now also ETHC) so if price goes up I'm happy*
3) Your argument is weak - markets often act irrationally
4) This just destroys ethereum fundamentals, which by the way were the following: "Ethereum is a decentralized platform for applications that run exactly as programmed without any chance of fraud, censorship or third-party interference." (literal quote from Ethereum marketing)

If you do not understand point 4 you are either a newbie, an ignorant or a fool.

Crypto markets are pretty predictable: short and mid term ETH will rally and ETHC will tank (going almost to $0).

Still as a speculative asset/money both ETH and ETHC are extremely flawed because there is no clear supply and they have an unpredictable inflation rate - in the case of ETH Vitalik can basically print more "ether" whenever he wants. ETHC should fix that if they want their coin to retain value.

Finally, I recognize it's cool technology but as a product its not clear what PROBLEM ethereum is trying to solve.

*disclosure: I'm selling 80% of my remaining ETH in the next rally, which is starting now. I will keep the last 20% of my remaining ETH, which is 2% of the total amount I bought in the crowdsale, "just in case". I will keep all my ETHC for the very long term.

pedrog

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Quote from: Rampion on July 21, 2016, 05:48:20 AM

Quote from: pedrog on July 21, 2016, 05:33:57 AM

Quote from: Rampion on July 21, 2016, 05:11:39 AM

Quote from: pedrog on July 21, 2016, 04:41:34 AM

Quote from: Rampion on July 20, 2016, 06:09:48 PM

I will just leave this here:

Genesis block, Bitcoin: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Block 1920000, Ethereum: Financial Times 20/Jul/2016 Ethereum bailout complete.

You don't know what a bailout is, or the author of the article doesn't know what a bailout is.

Bailout definition :

Quote

A bailout is a situation in which a business, individual or government gives money to a failing business in order to prevent the consequences that arise from a business's downfall

The devs, who became filthy rich thanks to their crypto token, feared that a third party who controlled more than 10% of all ether in circulation could tank the price and destroy (or affect) their wealth. To avoid this they bailed out themselves by stealing money from this party who executed a contract and returning this money to themselves.

No new money was given, a solution was presented and approved to solve a bug in the system that allowed the displacement of a shitload of money.

By your logic it is ok to do it in bitcoin but it is not ok to do it in ethereum.

No "new money" was given? Do you think that the money used to bailout the banks is "new money"? No, it's wealth coming from someone's pocket - most of the times consumers. Didn't you know?

Do you code? I bet no. There was no fucking bug in the system, the protocol worked fine and ethereum had no bug whatsoever. The contract was executed, full stop - but there was no bug in it. Even if you might argue that the contract said something that the creator of the contract didn't meant to say (e.g.: sorry, I signed that I was selling you my house but I didnt mean it), in any case is a problem with an APPLICATION, there was no fucking problem with Ethereum itself.

The equivalent in bitcoin would have been to hard fork to return the $400M stolen from MtGox - which, btw, were more than 10% of the total btc in circulation. That's the only fair comparison.

Nobody in Bitcoin land whould have seriously thought about hard forking because of MtGox. That's because Bitcoin is REAL MONEY built to LAST on SOLID FUNDAMENTALS, not a scam built but some butthurt devs that want to get extremely rich in the sort term and no other clear goal in mind.

Well, by what's happening with Ethereum's price it seems everyone is happy with the outcome, so, go cry somewhere else because nobody cares about your feelings.

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: pedrog on July 21, 2016, 05:33:57 AM

Quote from: Rampion on July 21, 2016, 05:11:39 AM

Quote from: pedrog on July 21, 2016, 04:41:34 AM

Quote from: Rampion on July 20, 2016, 06:09:48 PM

I will just leave this here:

Genesis block, Bitcoin: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Block 1920000, Ethereum: Financial Times 20/Jul/2016 Ethereum bailout complete.

You don't know what a bailout is, or the author of the article doesn't know what a bailout is.

Bailout definition :

Quote

A bailout is a situation in which a business, individual or government gives money to a failing business in order to prevent the consequences that arise from a business's downfall

The devs, who became filthy rich thanks to their crypto token, feared that a third party who controlled more than 10% of all ether in circulation could tank the price and destroy (or affect) their wealth. To avoid this they bailed out themselves by stealing money from this party who executed a contract and returning this money to themselves.

No new money was given, a solution was presented and approved to solve a bug in the system that allowed the displacement of a shitload of money.

By your logic it is ok to do it in bitcoin but it is not ok to do it in ethereum.

No "new money" was given? Do you think that the money used to bailout the banks is "new money"? No, it's wealth coming from someone's pocket - most of the times consumers. Didn't you know?

Do you code? I bet no. There was no fucking bug in the system, the protocol worked fine and ethereum had no bug whatsoever. The contract was executed, full stop - but there was no bug in it. Even if you might argue that the contract said something that the creator of the contract didn't meant to say (e.g.: sorry, I signed that I was selling you my house but I didnt mean it), in any case is a problem with an APPLICATION, there was no fucking problem with Ethereum itself.

The equivalent in bitcoin would have been to hard fork to return the $400M stolen from MtGox - which, btw, were more than 10% of the total btc in circulation. That's the only fair comparison.

Nobody in Bitcoin land whould have seriously thought about hard forking because of MtGox. That's because Bitcoin is REAL MONEY built to LAST on SOLID FUNDAMENTALS, not a scam built but some butthurt devs that want to get extremely rich in the sort term and no other clear goal in mind.

pedrog

legendary

Activity: 2786

Merit: 1031

Quote from: Rampion on July 21, 2016, 05:11:39 AM

Quote from: pedrog on July 21, 2016, 04:41:34 AM

Quote from: Rampion on July 20, 2016, 06:09:48 PM

I will just leave this here:

Genesis block, Bitcoin: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Block 1920000, Ethereum: Financial Times 20/Jul/2016 Ethereum bailout complete.

You don't know what a bailout is, or the author of the article doesn't know what a bailout is.

Bailout definition :

Quote

A bailout is a situation in which a business, individual or government gives money to a failing business in order to prevent the consequences that arise from a business's downfall

The devs, who became filthy rich thanks to their crypto token, feared that a third party who controlled more than 10% of all ether in circulation could tank the price and destroy (or affect) their wealth. To avoid this they bailed out themselves by stealing money from this party who executed a contract and returning this money to themselves.

No new money was given, a solution was presented and approved to solve a bug in the system that allowed the displacement of a shitload of money.

By your logic it is ok to do it in bitcoin but it is not ok to do it in ethereum.

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: pedrog on July 21, 2016, 04:41:34 AM

Quote from: Rampion on July 20, 2016, 06:09:48 PM

I will just leave this here:

Genesis block, Bitcoin: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Block 1920000, Ethereum: Financial Times 20/Jul/2016 Ethereum bailout complete.

You don't know what a bailout is, or the author of the article doesn't know what a bailout is.

Bailout definition :

Quote

A bailout is a situation in which a business, individual or government gives money to a failing business in order to prevent the consequences that arise from a business's downfall

The devs, who became filthy rich thanks to their crypto token, feared that a third party who controlled more than 10% of all ether in circulation could tank the price and destroy (or affect) their wealth. To avoid this they bailed out themselves by stealing money from this party who executed a contract and returning this money to themselves.

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: ezehy2014 on July 20, 2016, 06:12:44 PM

Quote from: Rampion on July 20, 2016, 06:09:48 PM

I will just leave this here:

Genesis block, Bitcoin: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Block 1920000, Ethereum: Financial Times 20/Jul/2016 Ethereum bailout complete.

I don't understand this post, what are you trying to pass across here, is bitcoin getting stronger ?

Satoshi "hardcoded" the following quote on Bitcoin's first block: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

See heere: https://en.bitcoin.it/wiki/Genesis_block

That sentence basically sums up the problem bitcoin solves: in the fiat world you do not control your money, and this is a huge problem. In the fiat world your hard earned money can be seized or inflated to infinity by central bankers, the government, etc.

With Bitcoin you are your own bank, you have full control of your money and nobody, I repeat, NOBODY, can ever touch your money if you maintain control of your private keys. No third party can do shit with your money if keep your private keys safe.

In Bitcoin on-chain transactions that have enough confirmations are final and irreversible. In Bitcoin, cash is fungible.

On the contrary the devs and big stakeholders in Ethereum were just bailed out - they hard forked because they couldn't accept a 33% loss. On Ethereum third parties can arbitrarily decide to seize your money even if you keep control of your private keys. They can just reverse transactions if they want. Transactions are not necessarily final nor irreversible.

The Financial Times published an article yesterday. The title? "Ethereum bailout complete. Long live Ethereum!".

Oh, the irony!

pedrog

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Activity: 2786

Merit: 1031

Quote from: Rampion on July 20, 2016, 06:09:48 PM

I will just leave this here:

Genesis block, Bitcoin: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Block 1920000, Ethereum: Financial Times 20/Jul/2016 Ethereum bailout complete.

You don't know what a bailout is, or the author of the article doesn't know what a bailout is.

Rampion

legendary

Activity: 1148

Merit: 1018

Every day that passes Bitcoin proves it is resilient. Bitcoin is sound money that keeps its promise: you will always be able to move money on chain without third parties being able to stop you - it is impossible to reverse a transaction, FULL STOP.

Ethereum just proved it's a joke. We already knew its awful money (uncertain supply controlled by a benevolent dictator, wow, that sounds sustainable). Now the ethereum community just demonstrated they have no idea of what are the fundamentals of their crypto, what problem they are trying to solve, what promise they need to fulfill. They proved they are just butthurt because they lost the Bitcoin train and just want to profit handsomely from their altcoin in the short term - at all costs, even if fundamentals are destroyed in the process.

Yes, Ethereum just bailed out their devs and stakeholders, fundamentally destroying any sustainability hope for Ethereum in the long term. The Bitcoin community would have never thought seriously about forking to bail out those who lost money on MtGox, that's a big difference.

Disclaimer: I own thousands of ethers, but still a fact is a fact.

groll

sr. member

Activity: 336

Merit: 250

Quote from: Rampion on July 20, 2016, 06:09:48 PM

I will just leave this here:

Genesis block, Bitcoin: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Block 1920000, Ethereum: Financial Times 20/Jul/2016 Ethereum bailout complete.

Many will not just get it. But that may be true but in terms of price or monetary value it is really getting stronger. But with regards to supply it aint becoming stronger. But never the less the bitcoin economy is getting livelier every moment with thousand of people are joining everyday. But hope the supply will last and can cater the unlimited demand of bitcoin.

AgentofCoin

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Activity: 1092

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Quote from: Rampion on July 20, 2016, 06:09:48 PM

I will just leave this here:

Genesis block, Bitcoin: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Block 1920000, Ethereum: Financial Times 20/Jul/2016 Ethereum bailout complete.

Dumbledore approves and awards Bitcoin 60 points! Bitcoin wins the House Cup!

Gyrsur

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Activity: 2856

Merit: 1520

Bitcoin Legal Tender Countries: 2 of 206

Quote from: Rampion on July 20, 2016, 06:09:48 PM

I will just leave this here:

Genesis block, Bitcoin: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Block 1920000, Ethereum: Financial Times 20/Jul/2016 Ethereum bailout complete.

+21M

ezehy2014

sr. member

Activity: 257

Merit: 250

Quote from: Rampion on July 20, 2016, 06:09:48 PM

I will just leave this here:

Genesis block, Bitcoin: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Block 1920000, Ethereum: Financial Times 20/Jul/2016 Ethereum bailout complete.

I don't understand this post, what are you trying to pass across here, is bitcoin getting stronger ?

Rampion

legendary

Activity: 1148

Merit: 1018

I will just leave this here:

Genesis block, Bitcoin: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Block 1920000, Ethereum: Financial Times 20/Jul/2016 Ethereum bailout complete.

Topic: Bitcoin is now stronger than ever. - page 2. (Read 1282 times)